Koichi Miyata: SMFG Head

Koichi Miyata joined Sumitomo Mitsui Bank in 1976 after graduating from university. In 2003 Koichi was appointed as a director of Sumitomo Mitsui Banking Corporation (SMBC). He was then appointed in 2006 as a managing director of SMBC. In 2009, he became a senior managing director. 

Koichi in 2010 was appointed as a Director of SMFG (Sumitomo Mitsui Financial Group). This is the umbrella organization of which SMBC is under. In this position he was the Deputy Head of the Treasury Unit of SMFG as well.  In April 2011 Koichi was appointed President of SMFG. He was now the head of a very large financial group in Japan and the whole world as well. 

One advantage presented itself when Koichi became president. The financial world was still recovering from the financial meltdown in 2008. Japanese banks which had more prudent outlook were largely insulated from the worst part of the crisis. 

His Group bought carefully chosen assets from struggling European lenders. They are looking at acquisitions abroad and pushing strongly in China. As a result Group net profit in the April-December (2012) period increased by 34 percent from a year earlier.

As expected of a competent leader, Koichi has taken advantage of opportunities that came about.